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Shares in electromagnetic shielding supplier Laird crashed 35 per cent, after it shocked investors with a severe profit warning only a month after saying it would meet analysts' estimates.
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The company, which also sells antennae to mobile handset makers, said that it had seen a sudden and drastic deterioration in sales, and that visibility of customer demand was minimal. The news comes hot on the heels of a second warning from mobile phone giant Nokia.
Nokia estimates that mobile phone sales will fall next year for the first time in years, and that's very bad news for Laird. With zero visibility, shares are high enough at 67p.
Last IC View: Buy, 329p, 11 August 2008
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